Welcome to The Dirt! I’m real estate, weather and critter reporter Kimberly Miller with the latest developments in the sizzling market.
It has come to The Dirt’s attention that dodging electric bikes on the walking path along the Intracoastal Waterway is one of the last affordable exercises near downtown West Palm Beach. Amped Fitness? $130 a month. Surfing in Palm Beach? You’re probably looking at a $60 parking ticket. Pickleball? Well, new courts are coming to CityPlace with peak-time prices costing up to $80 an hour. I hope a personal trainer and spicy margarita come with that.
One Dirt collaborator immediately brought up the soothing sounds that emanate from pickleball courts. Should be fun for power lunches downtown.
Also, two celebrity crooners have offloaded homes, and a waterfront lot recently sold for 73 times more than the last time it traded hands. Guess the market isn’t cooling off? Don’t ask Billy Joel though.
Billy Joel finally sells Manalapan home but gets less than he hoped for
Billy Joel’s oceanfront mansion in the tony Palm Beach suburb of Manalapan sold for the not-so-shabby price of $42.6 million. The home, which is designed to look like an Italian palazzo, has nine bedrooms, 18,886 square feet of living space, and a 10-car garage. There is 150 feet of frontage on the ocean and a dock to the west along the Intracoastal Waterway.
Joel listed the estate in 2022 for $64.9 million. But the market wasn’t having it and the price dropped twice. So, is Joel a permanent Florida man now? He’s bought two neighboring properties in The Sanctuary in Boca Raton, and Joel-linked companies own a townhouse in Palm Beach and an equestrian property in Wellington. I’d say that’s solid evidence of that the “Piano Man” is also a Florida man.
Palm Beach home of the late Jimmy Buffett is under contract
The late Jimmy Buffett, who died of cancer in September 2023, has owned multiple properties in Palm Beach but the ones on tiny Root Trail seem to most reflect the persona of the legendary Margaritaville singer. Lined with modest cottages, Root Trail is a standout on the island for being more like quirky Key West than glitzy Worth Avenue.
The landmarked bungalow at 138 Root Trail is one of three houses being sold by Buffett’s family on the unique street, which has immediate beach access. The Buffets bought the house through an ownership company in 2002 for $802,000. It was listed at $7.25 million.
Related Group buys another waterfront property in West Palm Beach
Hurricanes schmurricanes, people still want to come to South Florida. Right? Right? Well, that’s what developers believe and they are banking property for new waterfront projects like nobody’s business. The Related Group, which is not related to the Related Ross company led by Stephen Ross, recently plunked down $35 million for 2001 N. Flagler Drive. BH Group, a private equity and real estate investment firm, was also in on the purchase.
The property last sold in 1997 for $480,000, so just a teency profit for the seller, which is a company affiliated with physician Steven Krumholz. Sounds like a retirement to the French Riviera is in order. Need a personal assistant? Asking for a friend.
Live lightly.
Kimberly Miller is a journalist for The Palm Beach Post, part of the USA Today Network of Florida. She covers real estate, weather, and the environment. Subscribe to The Dirt for a weekly real estate roundup. If you have news tips, please send them to kmiller@pbpost.com. Help support our local journalism, subscribe today.
